24 CFR 1007.70 - Disqualification of lenders and civil money penalties.
(1) Grounds for action. HUD may take action under paragraph (a)(2) of this section if HUD determines that any lender or holder of a guarantee certificate:
(ii) Has engaged in practices otherwise detrimental to the interest of a borrower or the United States.
(2) Actions. Upon a determination by HUD that any of the grounds for action in paragraph (a)(1)(i), of this section apply to the holder of a guarantee certificate, HUD may:
(i) Refuse, either temporarily or permanently, to guarantee any further loans made by such lender or holder;
(iii) Require that such lender or holder assume not less than 10 percent of any loss on further loans made or held by the lender or holder that are guaranteed under this part.
(1) In general. HUD may impose a civil monetary penalty on a lender or holder of a guarantee certificate if HUD determines that the holder or lender has intentionally failed:
(2) Penalties. A civil monetary penalty imposed under this section shall be imposed in the manner and be in an amount provided under section 536 of the National Housing Act (12 U.S.C.A. 1735f-1) with respect to mortgagees and lenders under that Act.
Title 24 published on 2014-04-01
no entries appear in the Federal Register after this date.